Question 1 points Save Answer Merlin Co. leased equipment to Houdini Inc. The equipment cost the lessor $237,500. The appropriate interest rate for this lease is 8%. The annual lease payments are made at the beginning of each year. The lease term is three years. At the end of the lease, Houdini willl return the equipment and has guaranteed the value at its estimated residual value. The residual value at the end of the lease term is expected to be $44,600. PV of $1 PV, ordinary annuity PV, annuity due n/l 1 period, 8% 2 periods, 8% 3 periods, 8% .92593 92593 1.00000 85734 1.78326 1.92593 2.78326 79383 2.57710 What is the lease payment Houdini would make? $